Morning Note

Morning Note – 7 March 2018

SENS Summary


Rand Merchant Investment Holdings (RMI)

  • RMI released a trading statement for the six months ended 31 December 2017. The company advised shareholders that headline earnings per share is expected to be between 131.5 cents and 142.5 cents per share, representing an increase of between 20% and 30%.



Sasfin Holdings Limited (SFN)

  • SFN released a trading statement for the half year to 31 December 2017. Headline earnings are expected to decrease between 40% and 45%.



Sea Harvest Group Limited (SHG)

  • SHG released their annual financial statements for the year ended 31 December 2017. Revenue increased by 10%, headline earnings per share increased by 91% to 108 cents per share (2016: 56.4 cents per share) and the group declared a dividend of 31 cents per share (2016: nil).


Current Forex

  • ZAR/USD : 11.83
  • ZAR/GBP : 16.44
  • ZAR/EUR : 14.70


Top 40 Moves


Tiger Brands Ltd (TBS)


Tiger Brands’ share price fell by more than 10% on Monday morning amid the deadly listeria outbreak. Since then, the share price started to make a recovery, closing at 7.44% down on Monday and moving up by 2.45% yesterday to close at R403. This share is now trading below its 200-day moving average which is still seen as bearish. Resistance levels are therefore the 200-day moving average at R404.53, followed by horizontal resistance at R413. On the downside, the share may find further support at R364.89.


Contact us:

Schalk Louw

Portfolio Manager


  Tel: +27 21 202 2715


 Kobus Viljoen

 Investment Analyst


 Tel: +27 21 204 4074

 Pieter-Jan van Niekerk

 Equity Analyst & Trader


      Tel: +27 21 202 2716